1760 Elbert Dr #1762 · Cave Spring, VA 24018

$340,000

None bd · None ba · — sqft · MultiFamily · 3 Days on market

Built 1972 Good condition 0.29 ac lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +6.4/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Discover this exceptional duplex in a highly desirable Southwest Roanoke County , excellent county schools. Offering two cash-flowing units for the price of one, this property is perfect for an investor or an owner-occupant looking to live in one side while renting out the other. Enjoy private level back yard, plenty of room for garden, Two off street parking spaces. Unit 1762 lease ends at 9/31/2026 perfect for owner use or option to renew. #1760 new tenant lease starts 6/15/2026. No HOA, enjoy freedom of HOA fee.

Key facts

• 0.29 acre lot
• 2 parking spots
• Built 1972

Tags

• PRIVATE LEVEL BACK YARD
• OFF STREET PARKING SPACES

Property features AI

Finance

• Other: Parcel number 076.05-02-18.00-0000; Listed price $340,000
• Financial info: Annual tax amount $2,385

Exterior

• Parking: 2 total parking spaces
• Utilities: Water service (owner pays); Electric and sewer details not specified
• Home design: Duplex (multifamily property); Built in 1972
• Construction: Built in 1972
• Exterior features: Lot of 0.29 acres

Interior

• Bedrooms: 2-unit duplex (unit-level bedroom counts not provided)
• Heating & cooling: Forced Air gas heating; Central cooling
• Interior features: Has heating and cooling; Forced Air gas heating
• Laundry & utility: Owner pays water; Owner pays lawn care

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $340k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $751 ($9k/yr) — positive. Per door: $376/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $340k).
• Cap rate 8.9% vs local median 3.4% in Cave Spring — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#113 in VA, #3,513 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities F, commute F.
• Roanoke County Public School District (suburban): math 71% / reading 78% proficiency, ranked #9 of 131 in VA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Oak Grove Elementary (math 77% / reading 77%, grade A, #171 of 1,108 statewide, top 17%, 415 students, 38% FRL); Hidden Valley Middle (math 76% / reading 83%, grade A+, #28 of 342 statewide, top 8%, 578 students, 26% FRL); Hidden Valley High (math 90% / reading 92%, grade A+, #5 of 319 statewide, top 1%, 830 students, 24% FRL).
• Market conditions: Rents rising (+2.9%/yr); 333 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 360 units permitted in Roanoke County in 2024 (228 in 5+ unit buildings).
• At $3,925/mo this rent would consume 52% of the median local household income ($91k/yr) (locally 495% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Roanoke County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5320 Carolyn Cir Unit & 5322	0.08mi	—/—	—	11mo	$375,000	—	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-7,672
• Equity at exit: $50,695

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $53,221
• Equity at exit: $29,397

Cash invested: $95,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24018

• Rents YoY: 2.9%
• Active inventory: 333
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $3,925 high
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$824
• Net cashflow: $751

Break-even live

Break-even rent $2,974

Max offer price $340,000

Occupancy floor 76%

Sensitivity live

Price	-10% $986	-5% $869	+0% $751	+5% $634	+10% $516
Rent	-10% $441	-5% $596	+0% $751	+5% $906	+10% $1,061
Rate	-1.0pp $922	-0.5pp $838	base $751	+0.5pp $663	+1.0pp $573

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,926
Total (2 units)			$3,925

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1814 Pelham Dr Roanoke, VA	3.0	2.0	3082	$2,500	$0.81	14d	1	0.16mi
2119 N Electric Rd Unit 24 Cave Spring, VA	2.0	1.5	1000	$1,245	$1.25	44d	1	0.67mi
2119 Electric Rd Roanoke, VA	2.0	1.5	1000	$1,245	$1.25	14d	1	0.67mi
4630 Roxbury Ln Cave Spring, VA	1.0–2.0	1.0–1.5	930	$1,625	$1.75	14d	7	0.99mi
1502 Electric Rd Roanoke, VA	3.0	2.5	3212	$2,920	$0.91	14d	1	1.19mi

Listing history 5 events

1. 2026-06-02
   status $340,000 Pending 3 DOM
2. 2026-06-01
   days on market $340,000 Active 3 DOM
3. 2026-05-31
   days on market $340,000 Active 2 DOM
4. 2026-05-30
   remarks 521-char remark
5. 2026-05-30
   listed $340,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,100
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,768
• − Management: −$3,768
• − Depreciation: −$9,891
• Taxable income: $3,828
• Est. tax owed @ 24.0%: −$919
• After-tax cash flow: $8,094/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 8 photos

Good 75/100 Cosmetic rehab

This well-maintained, two-unit property is in good condition with minimal repairs needed. It offers a good investment opportunity with potential for rental value enhancement.

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping — Landscaping can improve curb appeal and add value
• Rental New flooring in bathrooms — New flooring can make bathrooms more appealing to renters

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Landscaping can improve curb appeal and add value ↑
• Rental New flooring in bathrooms — New flooring can make bathrooms more appealing to renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Roanoke County Public School District
• NCES district ID: 5103330
• Math proficiency: 71% ▼ -19.00%
• Reading proficiency: 78% ▼ -6.00%
• Median HH income: $60,526
• Composite: 64.08/100
• National rank: #578
• State rank: #9 of 131 in VA

Livability — Cave Spring

• Score: 76/100
• State rank: #113
• US rank: #3513

Category grades

Amenities F Commute F Cost of living A- Crime B- Employment B+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Roanoke County · 67,305 people
• Metro: Roanoke, VA
• Population (ZIP): 38,720
• Household income: $90,885
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 495.0

Population outlook (Roanoke County) Hauer SSP2

• Today (2025): 98,162 people
• By 2030: 99,793 · +1.7%
• By 2040: 101,965 · +3.9%
• By 2050: 103,328 · +5.3%
• By 2075: 108,641 · +10.7%
• By 2100: 104,845 · +6.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 6% Hispanic / Latino 4% Two or more races 4% Black 4%
• Common ancestry: Italian 4% Slovak 3% Serbian 3%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Roanoke

• 2024 margin: Strong R (+22.5) · D 38.2% · R 60.7% · Other 1.1%
• 2008→2024 swing: -1.4pp toward R · 2008: -21.1pp · 2024: -22.5pp
• All cycles: 2024: R+22.5 2020: R+21.8 2016: R+28.1 2012: R+25.6 2008: R+21.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -266.18%
• Current HPI: 176.0558
• Rent YoY: ▲ 2.88%
• Metro: Roanoke, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

1 event — show timeline

• 2026-05-29 Listed $340,000 MLSRV